CIT Group Inc. said it isn’t yet able to estimate its possible losses from the fatal July derailment of a train in Lac-Megantic, Quebec, that included locomotives and tank cars owned by the firm and leased to other companies.
Apple Inc. and Samsung Electronics Co. don’t have to reveal confidential data including financial information, source code, business plans and market research reports to the public, a U.S. appeals court ruled Aug. 23.
John Thain, who sold Merrill Lynch & Co. for a premium at the height of the financial crisis, has transformed the once-bankrupt lender CIT Group Inc. into an enticing takeover target for some of the largest banks.
The Standard & Poor’s 500 Index fell a third day, its longest decline in seven weeks, as European leaders clashed on ways to stem the debt crisis and data from China and Germany signaled the slowdown is deepening.
CIT Group Inc. , the commercial lender run by Chief Executive Officer John A. Thain , posted its second straight quarterly profit since emerging from bankruptcy and said the firm will repay or refinance $4 billion of debt.
Lone Star Funds has agreed to buy $1 billion in commercial loans from CIT Group Inc., the small business lender run by John Thain after emerging from bankruptcy in December 2009, according to a person with knowledge of the sale.